ServiceMaster Shareholders OK Buyout

ServiceMaster Co. (NYSE: SVM) shareholders have approved a $5.5 billion buyout offer from Clayton Dubilier & Rice. Banc of America Capital Investments, Citigroup Private Equity and JPMorgan Chase have committed to provide additional equity financing, while leverage will come from Banc of America Securities, Citigroup Global Markets and JPMorgan. Morgan Stanley and Goldman Sachs served as financial advisors to ServiceMaster, which provides residential and commercial customers with such services as lawn care and landscape maintenance, termite and pest control, home warranties, disaster response and reconstruction, cleaning and disaster restoration, house cleaning, furniture repair and home inspection.